An expression of interest (EOI) exercise has been launched for a 999-year leasehold conservation shophouse located at 20 Liang Seah Street. The property, which is being marketed exclusively by SRI Capital Market, is priced at $15 million.
The three-storey shophouse sits on a 1,129 sq ft plot and is zoned for both residential and commercial use. Under the latest Master Plan, it has a gross plot ratio of 4.2. With a built-up area of 2,635 sq ft, the guide price translates to $2,635 per square foot.
The ground and second floors of the shophouse are currently approved for restaurant use, while the top floor is leased out for residential purposes. The property is situated within the Beach Road secondary settlement conservation area, allowing for new extensions of up to five storeys with the necessary approvals.
According to Low Choon Sin, managing partner of SRI Capital Market, the property is particularly suitable for end-users looking for a prime location for their F&B or corporate office businesses. The third floor’s residential space can be utilised for staff accommodation. The shophouse boasts a prominent frontage along Liang Seah Street, which sees high vehicular traffic throughout the day. It is also in close proximity to the bustling Bugis area and its array of restaurants and shops.
Low also highlights the property’s potential for long-term investment, particularly in light of the ongoing rejuvenation of Bugis, with new developments such as Guoco Midtown and the upcoming Shaw Towers enhancing the area’s vibrancy.
The urban landscape of Singapore is well-known for its impressive high-rise buildings and advanced infrastructure. This bustling city boasts a variety of condominiums located in prime areas, offering an alluring combination of luxury and convenience. This has led to their popularity among both local and international residents. These extravagant living spaces are equipped with top-notch amenities such as swimming pools, fitness centers, and security services, elevating the overall quality of life for those who choose to reside in them. These factors not only make Singapore Condos a desirable choice for potential tenants and buyers, but also a promising investment for the future, with high rental yields and potential for property value appreciation.
The EOI exercise for the sale of 20 Liang Seah Street will close on April 10. For those interested in purchasing a piece of Singapore’s rich heritage and prime commercial real estate, this could be a lucrative opportunity to acquire a 999-year leasehold property in a highly sought-after location.